Nifty To Remain Volatile Ahead Of F&O Expiry, Continue Long Until 10300 Holds
Last Trading Session: Indian Stock Market opened negative exactly as per EquityPandit’s predictions. EquityPandit predicted that market would see profit booking in initial trade and would recover after initial fall. EquityPandit also predicted that traders can hold long positions in market until Nifty holds above 10300 and exactly same happened. Indian Stock Market opened negative and fell down sharply in initial trade exactly as predicted by EquityPandit. BankNifty saw lows near EquityPandit’s predicted support levels of 25665. Finally, market recovered sharply as predicted by EquityPandit and managed to close positive for the day. Market saw strong resistance right near EquityPandit’s predicted resistance levels of 25925 for BankNifty and 33735 for Sensex.
Today: Indian Stock Market would open negative for the day. Technically, Indian Stock Market is still in positive zone. Analysis would remain same. Nifty next target is set to 10450-10485-10535, if Nifty managed to hold above 10306 on closing basis for next couple of days. Market would see some profit booking but traders can hold long positions until market holds above 10300 levels for Nifty and 25593 for BankNifty. Overall, market is bullish until Nifty holds above 10306 spot levels on closing basis. Some volatility would be seen in the market due to F&O Expiry week.
FIIs were net sellers of Rs.424.77 crores whereas DIIs were net buyers of Rs.69.40 crores in cash market for last trading session. Nifty would see strong support at 10360-10300-10260 whereas strong resistance would be seen at 10452-10490-10505-10535 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Check the Trend Of Major Indices and Stocks
Stocks In F&O Ban Period: DHFL, FORTIS, GMRINFRA, HDIL, INFIBEAM, JETAIRWAYS, JISLJALEQS, JSWENERGY, JPASSOCIAT, JUSTDIAL, ORIENTBANK, SYNDIBANK, TV18BRDCST and WOCKPHARMA.
NSE Nifty: (10400) The support for the Nifty is 10360-10300-10260 and the resistance to the up move is at 10452-10490-10505-10535 levels.
NSE BankNifty: (25892) The support for BankNifty is at 26800-25665-25598-25500 and the resistance to the up move is at 25925-26000-26060-26180 levels.
BSE Sensex: (33724) The support for the Sensex is at 33640-33500-33435-33340 and the resistance to the up move is at 33745-33865-33940 levels.
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